The Pakistani rupee (PKR) experienced a continued decline against the USdollar, with a depreciation of Re0.88 reported by the State Bank ofPakistan on Friday. This led to the rupee’s closing rate of Rs284.31 in theinterbank market. Over the course of the week, the PKR witnessed asignificant depreciation of 3.74 rupees against the US dollar, concludingthe week at PKR 284.31, in contrast to the previous week’s closing rate ofPKR 280.57 per USD.
During the day’s trading session, the domestic currency saw fluctuations,with an intraday high (bid) of 284.5 and a low (ask) of 283.6, ultimatelyclosing with a loss of 88.74 paisa.
In contrast, the Pakistan Stock Exchange’s KSE-100 index remained on anupward trajectory on Friday, surpassing the 53,000 point mark and achievingan all-time high.
The benchmark stock index reached a record intra-day high of 53,263.07,registering a 1.15 percent increase from the previous closing rate beforeexperiencing a slight correction. This marked the highest level reachedsince May 25, 2017.
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Arif Habib Limited reported that the market had achieved unprecedentedall-time high levels, surpassing previous records and heralding a new eraof financial excellence.